The amount of the deal – which sees BCG increase its stake in Asset Finance from 7% to over 70% with the remaining shares retained by existing shareholders – was not disclosed. The acquisition aims to broaden BCG’s global presence.
Established in 2011 and led by Mark Stephens, CEO, Blackstar Capital Group is a specialist trade finance firm, offering deal origination, structuring and direct lending solutions. Headquartered in London, it has offices and affiliates in Luxembourg, Dubai, Hong Kong, Brisbane and Auckland.
The company has arranged more than $300m in lending facilities to a broad range of clients in 2018 to date.
Founded in 1997, Asset Finance is a finance company which provides loans to individuals and companies across New Zealand. Its lending is provided in the form of a range of consumer loan and business finance solutions with loans ranging from $1,000 to $400,000 or more.
The company, licenced by the Reserve Bank of New Zealand (RBZNZ) as a Non-Bank deposit taker, authorized to raise money from and issue securities to the public, serves clients through a branch network of branded offices and partner lending agencies. It has a loan book approaching NZ$20m (US$13m).